Wemade Completes Royalty Settlement with Actoz Soft... Withdraws Payment Claim Lawsuit
Revenue Distribution Ratio Finalized by Supreme Court Ruling
On June 15, Wemade announced that it has withdrawn its lawsuit, filed together with its subsidiary ChuanQi IP, against the domestic game company Actoz Soft and its subsidiary Shanghai Shanda Games regarding royalty payments.
Wemade and Actoz Soft have jointly held the intellectual property (IP) rights for "Legend of Mir 2·3." The two companies had been involved in a years-long legal dispute over the royalty revenue distribution ratio for licensing business based on this IP. Ultimately, in December of last year, the Supreme Court finalized the ratio at 80% for Wemade and 20% for Actoz Soft, and the royalty settlement was completed.
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Accordingly, Wemade and ChuanQi IP have also withdrawn the royalty payment lawsuit previously filed against Actoz Soft. A Wemade representative stated, "With the Supreme Court’s final ruling, all legal uncertainties surrounding the 'Legend of Mir 2·3' IP business have been completely resolved," and added, "Now that the legal dispute has been concluded, we will further focus on growing the value and expanding the business of the Mir IP based on our stable legal position."
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